The Internal Revenue Service (IRS) today urged taxpayers to proactively protect important tax and financial records in anticipation of potential disasters. As part of National Preparedness Month, the IRS emphasized the importance of updating emergency plans, securing key documents, and understanding available disaster relief resources to aid recovery, insurance claims, and tax benefits.
"Preparing now can make a real difference when a disaster strikes," said IRS Chief Executive Officer Frank J. Bisignano. He added that all taxpayers, even those in areas not typically prone to disasters, should take precautionary steps to plan for property loss and to ensure important financial records are protected.
Taxpayers can prepare by keeping vital documents like tax returns, birth certificates, and insurance policies in waterproof and fireproof containers. Creating electronic copies of records and saving them securely, along with documenting valuable property through photos or videos, are also recommended. The IRS suggests reviewing emergency plans annually and knowing how to access tax records through the IRS Individual Online Account or by requesting transcripts.
When the IRS grants disaster tax relief, certain filing and payment deadlines are postponed. This relief is often automatic for taxpayers in covered disaster areas. Those outside these areas, but whose records are affected, can call the IRS Special Services Hotline at 866-562-5227 for assistance. Individuals and businesses with uninsured or unreimbursed disaster-related losses may also be eligible to claim these on their federal tax returns, as detailed in Publication 547.